Opposition parties and some of the partners of the UPA have tagged the economic policy of letting Foreign Direct Investment (FDI) into India n markets mainly the retail sector as an anti-farmer and anti-public decision.
At a time when India is battling inflation and sky-high real estate prices, the country's most populous cities Delhi and Mumbai still rank among the world's least expensive cities to live in, a new survey revealed. In a study published on Friday by banking major Union Bank of Switzerland, Delhi and Mumbai were the least expensive cities due to the low prices of goods and services. Delhi also topped the list in terms of the lowest income earned by workers.
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The government shows no signs of relenting to the allies and Opposition demands for the withdrawal of policy initiatives on FDI in retail and diesel price hike, with Prime Minister Manmohan Singh saying that the long-delayed reforms were essential for reviving growth and improving the investment climate in India . Strongly ridiculed for holding back reforms that would make a deep cut in the widening fiscal deficit, the UPA government this week announced decisions on allowing FDI in several sectors and an increase in heavily subsidised diesel prices amid strong opposition and threats from parties to pull the plug on the government. At a meeting of the Planning commission on Saturday, Manmohan Singh said that "courage and some risks" were needed to prevent the economic scenarios of 'policy logjam' or 'insufficient action' and implement 'strong inclusive growth' as mentioned in the 12th Plan document
Financial news service provider 24/7 Wall St.
Customers shop at a supermarket in Mumbai (Reuters). The India n government has announced a slew of economic reforms including foreign direct investment (FDI) in retail, aviation and broadcasting sectors in a bid to revive its sluggish economy
Top Post-Market Nasdaq Movers (MIPS, Star Scientific, ACADIA, Alpha and Omega, Nanosphere, Orexigen, Fulton, Acme)
The top after-market Nasdaq gainers Friday were MIPS Technologies, Star Scientific Inc, ACADIA Pharmaceuticals Inc and Alpha and Omega Semiconductor Limited. The top after-market Nasdaq losers were Nanosphere Inc, Orexigen Therapeutics Inc, Fulton Financial Corporation and Acme Packet Inc.
The Dow Jones Industrial Average (DJI: DJI) gained another 53.51 points, or 0.40 percent, on Friday to close at 13,593.37, the highest level in nearly five years. Recent aggressive efforts in the U.S
Ben Bernanke announces QE3. The much-awaited QE3 has boosted world markets as Fed Chairman Ben Bernanke announced that it will undertake open-ended purchase of mortgage-backed securities to the tune of $40bn per month.
The Federal Reserve's powerful rate-setting committee announced Thursday, as most market-watchers had expected, that it would engage in a third-round of unsterilized asset purchases to stimulate the U.S. economy. Following up on suggestions at a speech in Jackson Hole, Wyo., that it would go through with the monetary policy course -- colloquially known as QE3 -- the Fed announced it would expand the size of its long-term asset balance sheet by some $85 billion per month through the end of 2012, buying about $40 billion in mortgage-backed bonds
No progress was made to close the gender wage gap in the United States last year, according to the U.S. Census Bureau, which reported Wednesday that women continue to earn an average of 77 cents for every dollar earned by a man in an equal position.